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A car wash at the corner of Will shire and Olympic boulevard in Los Angeles is for sale for $500,000. Mr. Buy cheep who intends to buy the facility estimates that it will have a 100 car per day customer base. The cost of water, electricity, washing liquids, etc. per car is $1. For administration and operation of the facility, three people at $7 per hour must be employed. If the purchaser wants to take home $300 per day and recover his investment and costs in two years, what should he charge per car wash?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92741887

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